Financial Performance - FTAI reported a net income attributable to shareholders of $86.692 million for Q4 2024, a decrease from $110.025 million in Q4 2023, representing a decline of 21.2% year-over-year[22]. - The company achieved total revenues of $498.819 million in Q4 2024, up 59.5% from $312.737 million in Q4 2023[22]. - Adjusted EBITDA for Q4 2024 was $252.015 million, reflecting strong operational performance[2]. - FTAI's Aerospace Products segment saw a net income of $346 million for fiscal year 2024, up 92% year-over-year, with Adjusted EBITDA increasing by 138%[7]. - Adjusted EBITDA for the year ended December 31, 2024, was $862,050, representing a 44% increase from $597,282 in 2023[27]. - Adjusted EBITDA for Aerospace Products was $380,636 for the year ended December 31, 2024, compared to $160,009 in 2023, marking a 138% increase[31]. Dividends and Shareholder Returns - The company declared a cash dividend of $0.30 per ordinary share for Q4 2024, payable on March 24, 2025[3]. Future Guidance - FTAI expects 2025 Adjusted EBITDA to be approximately $1.1 to $1.15 billion, with $500 million from Aviation Leasing and $600 to $650 million from Aerospace Products[11]. - FTAI is increasing its 2026 Adjusted EBITDA guidance from $1.25 billion to approximately $1.4 billion, reflecting expected growth from the Strategic Capital Initiative[12]. Operational Costs and Expenses - The company reported total expenses of $340.610 million for Q4 2024, compared to $224.876 million in Q4 2023, indicating a significant increase in operational costs[22]. Balance Sheet and Assets - Total assets increased to $4,037,952, up 36% from $2,964,685 in 2023[24]. - Total current assets rose to $1,226,018, a 83% increase from $671,434 in 2023[24]. - Cash and cash equivalents increased to $115,116, up 27% from $90,756 in 2023[24]. - Inventory increased significantly to $551,156, a 74% rise from $316,637 in 2023[24]. Liabilities and Equity - Long-term debt increased to $3,440,478, up 37% from $2,517,343 in 2023[24]. - Total liabilities rose to $3,956,584, an increase of 42% from $2,788,802 in 2023[24]. - Shareholders' equity decreased to $81,368, down 54% from $175,349 in 2023[24]. Share Information - FTAI's weighted average shares outstanding for Q4 2024 were 102,549,890 for basic shares and 103,603,350 for diluted shares[22]. Joint Ventures and Capacity Expansion - The joint venture with IAG Engine Center is expected to add maintenance capacity for 450 modules (150 engines) per year, increasing FTAI's total maintenance capacity to 1,800 modules (600 engines)[8].
FTAI AVIATION(FTAIM) - 2024 Q4 - Annual Results